16 Мировая экономика 241

A concrete commodity market and each stage of developing the economic situation have various

combinations of factors determining the peculiarities of their relations. The following Figure 17.1

may be considered as one of the classifications of commodity markets by eight features.

Classification of features of commodity markets

I Structure of a II Incomes’ level III Territorial IV Commodity

nation’s and the coverage branch

(country’s) character of

economy their distribution

In the country

• markets with natural • nations with low • local • machinery and

economy income equipment

• raw materials • nations with very • national • mineral raw

markets of low income and materials and fuel

exporting nations with very high

(countries) income levels

• markets of • nations with low, • regional • agricultural

developing nations average and high commodities

(countries) levels of income

• markets of • nations for the most • worldwide • timber goods, etc.

developed nations part with average

(countries) income level

Classification of features of commodity markets

V Sphere of social VI Character of VII Life period of VIII Organization,

production final use goods structure of the

market

• commodity market • markets of durable • markets of durables World market :

of material goods a) open j

production b) closed (locked)

• market of inventions • markets of c) preferential j

• market of spiritual • markets of nondurable goods Domestic market

and intellectual consumer goods • markets of a) wholesale

Values disposable goods b) retail

Figure 17.1. Classification of commodity markets

In addition to different criteria and classification systems of commodity markets the main parameters

of their economic situation are subject to analysis and estimates according to the following

Indices:

a) Indices in the sphere of material production. These indices (absolute and relative) are obtained

by taking into consideration the output of minerals — oil, gas, coal, ores, etc.; the harvest of

agricultural commodities; the industrial production output; construction, etc.

b) Indices of the internal turnover. These indices reflect the solvency of the population (pay, salary

the size of consumer’s loan (consumer credit), the value of the consumer basket), the movement

of the stock of commodities (of goods), etc.

c) Indicators of foreign (international) trade, i.e., its structure (export, import, reexport, reimport,

export and import quotas, etc.).

d) Indicators of the finance and credit sphere. A regular survey of credit and financial indicator,

for example, the behavior (dynamics) of the discount rate, the share (stock) price, Dow Jones,

NASDAQ (US), Nikkei indices and others, the number of bankruptcies, etc., will help us understand

the national economic situation (business activity). If, say, the rate of discount decreases,

It points out that the demand for loan capital (interest-bearing capital) decreases and

the economy is in stagnation. If share (stock) prices of the leading companies and their credit

Indices increase, then it speaks of the improving of the economic situation, and vice versa.

e) The data on the level of capital investments also show the growth vector of the decrease of the

business activity.

f) Prices is the most important business barometer of the market economic situation. This index is

aggregating, integrating, and synthesizing all other parameters. Acquisition and processing of

data on the market (business activity) allow to carry out the market investigations (analysis) of

the world (global) economy, national economy and commodity markets, and trends in the development

of separate companies and firms.

A systematic survey (research) of the business activity allows to forecast developments in various

economic fields (general economic forecasting, demand and supply, production and consumption,

sale, prices, etc.).